I am pleased to update you that we have crossed another important milestone in the progress we are making towards our church sanctuary construction. Since the beginning of the initiation of our contract with Habersham Land Company, the transfer of the property has been contingent upon the financing.
As you know, we have raised the pledge commitments over a number of years, therefore a bridge loan from a lending institution was needed. More specifically, we needed to provide a loan commitment letter from a Bank to prove we could, in fact, build the building.
We have believed for a few months now, that we had enough money in pledges and cash on hand to prove that a bank would want to enter into a loan relationship with us. However, this past Wednesday, the first bank did extend a commitment letter to us. Therefore, what we hoped for and saw good reason to believe would happen, has happened. We have satisfied the conditions to close on the property.
The Parish Church at Habersham in the Anglican Diocese of South Carolina nears groundbreaking for new Common Worship building https://t.co/CszGrBO217 #southcarolina #parishministry #anglican #acna #religion #lowcountrylife #stewardship #realestate #beginnings #worship pic.twitter.com/4KgndQ4GKl
— Kendall Harmon (@KendallHarmon6) July 27, 2023